Further to my thoughts on LINK.......... Before you read this post, please pull up the ETH chart at its inception.
As I have posted before I like LINK and I like it even more when I compare it to the chart pattern of Ethereum (ETH) when it first came to the market. As we all know, markets move in cycles (up and down) and LINK's timing into the market cycle seems to be well placed. This asset will certainly be at the top of my list again moving into the 2021 cycle. Investors have had plenty of time to buy LINK at a low price during 2019, this is called the “Accumulation Phase” where you buy into an asset at a low price, and now as we move into somewhat of a Bull market the price and value of the investment increases. (See chart)
In this chart, the Blue jagged line indicates the price and the brown, red and blue lines represent the 20. 40 and 100 day Moving Averages (MA) respectively. Note that all three MA (3) lines are moving in an upwards position. This gives you an indication of where the price may be moving. The light blue rectangular box shows the price span of the asset from Jan. 2019 to today and shows the value of a $1000 investment which I suggested, today at $20,643.40. Not bad for 22 months.
I believe that LINK can quite possibly follow the same growth pattern of Ethereum (ETH) my 2nd largest position when it came to market. For example, ETH had the same “Accumulation Phase” over only 4 months from July to Oct 2017 and then proceeded to rise up 774 % in just two months during its early growth phase of 6 months. Once again, a 774% increase in 6 months beats keeping your money under your bed in a sock. *** Please go and pull up the ETH chart if you like.
At best, we can only work with the information that the numbers provide and postulate from there. No one can see into the future and we can only see 100%, what has happened in the past. I have to tell you that this information is “NOT” financial advice of any kind, but merely an academic/theoretical exercise for friends to consider, rather than concocting some sort of vegetarian Zucchini meatloaf for Sunday dinner that would make your cat puke.
I am holding LINK for at least 1-2 years to see where it goes. It's not a scalping or day trade position. Of course you have to monitor these things, especially the volatility of BTC in relation to LINK.
Have a pleasant day.
wmw
Toronto, Canada
Oct 28, 2020
2:47 am
